ACME Communications Completes Sale of WBUI-TV in Decatur, IL
SANTA ANA, Calif., Oct. 25, 2007 -- ACME Communications, Inc. (Nasdaq:ACME) announced today that it has completed the previously announced sale of WBUI-TV in Decatur, IL to GOCOM Media of Illinois, LLC for $4.0 million in cash. ACME will use $2.8 million of the proceeds from the sale to repay all of the Company's outstanding debt under its senior credit facility while retaining the balance of the funds for working capital purposes.
About ACME Communications, Inc.
ACME Communications, Inc. owns and operates six television stations serving markets covering 2.2% of the nation's television households. The Company's stations are: KWBQ-TV and KASY-TV, Albuquerque-Santa Fe, NM; WBDT-TV, Dayton, OH; WBXX-TV, Knoxville, TN; WIWB-TV, Green Bay-Appleton, WI; and WBUW-TV, Madison, WI. All of the Company's stations, except KASY-TV, a MyNetworkTV affiliate, are affiliates of The CW Network. ACME's shares are traded on the Nasdaq Stock Market under the symbol: ACME.
CONTACT: ACME Communications, Inc.
Tom Allen, Executive Vice President and CFO
Brainerd Communicators, Inc.